DORAL, Florida, Feb. 06, 2020 (GLOBE NEWSWIRE) -- Earth Science Tech Inc. (OTCQB: ETST) (“ETST” or the “Company”), an innovative biotech company focused on the cannabidiol (CBD), nutraceutical and pharmaceutical fields, medical devices, and research and development, today announces it has canceled 18,000,000 common shares along with 5,200,000 Series A Preferred shares through a confidential settlement with Majorca LTD, the majority shareholder. The Company now has zero preferred shares outstanding and 36,384,394 common shares outstanding which is down from 53,902,354.
ETST’s President, Director and Chairman Nickolas S. Tabraue stated, “We are extremely pleased to have reached a settlement with Majorca, LTD and the value it adds for our shareholders is immediately recognized and meaningful.”
About Earth Science Tech Inc. (ETST)
Earth Science Tech, Inc. (“ETST”) offers the highest purity and quality high-grade full spectrum cannabinoid oil on the market. Based on its studies through the University of Central Oklahoma, DV Biologics, and key organizations, ETST formulates, markets and distributes the CBD formula used for its studies to the public, offering the most effective quality of CBD on the market.
To learn more, please visit: www.EarthScienceTech.com
ETST currently has two wholly owned subsidiaries and favored entity focused on developing its role as a world leader in the CBD space, expanding its work in the pharmaceutical and medical device sectors:
Earth Science Pharmaceutical Inc.
Earth Science Pharmaceutical ("ESP") is a wholly owned subsidiary of Earth Science Tech committed to the development of low cost, non-invasive diagnostic tools, medical devices, testing processes and vaccines for sexually transmitted infections and/or diseases. ESP's CEO and chief science officer, Dr. Michel Aubé, is leading the Company’s research and development efforts. The Company’s first medical device, Hygee™, is a home kit designed for the detection of STIs, such as chlamydia, from a self-obtained gynecological specimen. ESP is working to develop and bring to market medical devices and vaccines that meet the specific needs of women.
Cannabis Therapeutics Inc.
Cannabis Therapeutics (“CTI”) is a wholly owned subsidiary of Earth Science Tech Inc. poised to take a leadership role in the development of new, leading-edge cannabinoid-based pharmaceutical and nutraceutical products. CTI is invested in research and development to explore and harness the medicinal power of cannabidiol.
Earth Science Foundation Inc.
Earth Science Foundation (“ESF”) is a favored entity of Earth Science Tech Inc. ESF is in the process of becoming a non-profit organization to accept grants and donations to conduct further studies and help donate Earth Science Tech's effective CBD products to those in need.
SAFE HARBOR ACT: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, listing on the CSE, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
Nickolas S. Tabraue
President, Director, & Chairman
(305) 615-2118 Office